Global Neurovascular Catheters Market

Neurovascular Catheters Market Size, Share, Growth Analysis, By Application(Embolic Stroke, Brain Aneurysms, Arteriovenous Malformations, Others), By Type(Micro, Balloon, Access, Embolization), By Region - Industry Forecast 2024-2031


Report ID: SQMIG35A2523 | Region: Global | Published Date: April, 2024
Pages: 219 |Tables: 66 |Figures: 77

Neurovascular Catheters Market Insights

Global Neurovascular Catheters Market size was valued at USD 3.03 Billion in 2022 and is poised to grow from USD 3.25 Billion in 2023 to USD 5.66 Billion by 2031, at a CAGR of 7.20% during the forecast period (2024-2031).

Some of the key market-driving factors include the rising prevalence of neurological conditions like brain aneurysms and stroke, the adoption of an unhealthy lifestyle, rising public awareness of neurological condition treatment, rising disposable income, and the introduction of new products by key market players. The rise in neurovascular illnesses and advancements in neurovascular catheter technology are two factors that are expected to be responsible for market growth. The estimated global incidence of subarachnoid haemorrhage (SAH), for instance, is 6.67 per 100,000 persons, according to a March 2022 Frontiers article. SAH affects over 500,000 people annually, with low- and middle-income nations home to nearly two-thirds of those affected.

Additionally, market expansion is anticipated throughout the forecast period due to technological developments in neurovascular access catheters. For instance, in February 2022, CERENOVUS, a young business that specialises in neurovascular care and is a part of the Johnson & Johnson Medical Device Companies, introduced the EMBOGUARD, a next-generation balloon guide catheter to be used in endovascular procedures, including those for patients with acute ischemic stroke. The market should expand over the study period as a result of research studies and comparisons of the various neurovascular access catheters. For instance, a September 2022 publication in PubMed said that neurovascular therapies could be performed through both the femoral artery and the radial artery using an access catheter with an inner diameter of 0.096 inches. It had an excellent technical success rate and a low percentage of issues during the process.

US Neurovascular Catheters Market is poised to grow at a sustainable CAGR for the next forecast year.

Market Snapshot - 2024-2031

Global Market Size

USD 3.03 Billion

Largest Segment

Brain Aneurysms

Fastest Growth

Brain aneurysms

Growth Rate

7.20% CAGR

Global Neurovascular Catheters Market ($ Bn)
Country Share for North America Region (%)

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Neurovascular Catheters Market Segmental Analysis

Global Neurovascular Catheters Market is segmented on the basis of application, type, end use and region. By type, the market is segmented into micro, balloon, access, embolization, and others. By application, the market is segmented into embolic stroke, brain aneurysms, arteriovenous malformations, and others. By end use, the market is segmented into hospitals, clinics, ambulatory surgical centers, and diagnostic centers. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.

Neurovascular Catheters Market Analysis by End Use

In 2022, the hospital sector had the biggest market share, at about 55.53%. This market's expansion is primarily attributable to the rising number of patients with neurovascular conditions such ischemic and hemorrhagic stroke, brain aneurysms, traumatic brain injury (TBI), and arteriovenous malformation (AVM). For instance, the World Stroke Organization estimates that 1 in every 4 people over the age of 25 will have a stroke at some point in their lifetime. 13.7 million people are anticipated to have their first stroke each year, and 5.5 million of them may pass away. Without appropriate action, it seems that the annual death toll will rise to 6.7 million.

During the forecast period, ambulatory surgery centers are anticipated to experience the highest CAGR growth. When opposed to hospitals, ambulatory surgical centers (ASCs) provide patients with a number of benefits, such as faster recovery times. The majority of neurosurgeries can now be carried out in ASCs thanks to technologically sophisticated and minimally invasive surgical techniques. Patients can save a lot of money by using ASCs because they might be less expensive than hospitals.

Neurovascular Catheters Market Analysis by Application

In 2022, the brain aneurysms market category had the biggest share, at about 32.79%. Brain aneurysms, also known as intracranial aneurysms, are blood artery leaks or ruptures that result in brain bleeding. Hypertension, smoking, damage to blood arteries, complications from a few different types of blood infections, and genetic predisposition are all factors that can cause intracranial aneurysms. Thus, it is predicted that the market would grow throughout the forecast period as brain aneurysm prevalence rises globally.

Throughout the projection period, the other segment is anticipated to increase at the greatest CAGR. The Moyamoya disease, carotid artery stenosis, and cerebral atherosclerosis make up the other application component. A rare form of cerebral ailment called Moyamoya disease is brought on by blocked arteries at the brain's base. The disease may result in recurrent transient ischemic attacks, strokes, or brain haemorrhage.

Global Neurovascular Catheters By Application, 2023 (%)

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Neurovascular Catheters Market Regional Insights

Due to the presence of significant manufacturers in the area, including Penumbra, Inc., Stryker Corporation, Merit Medical Systems, Inc., and Johnson & Johnson, North America had the lion's share of the market in 2022 (33.23%). For instance, J&J's Cerenovus would invest USD 54.19 million in an Irish research facility's development of stroke devices in February 2022. The Rist Selective Radial Access Catheter and the Rist 079 Radial Access Guide Catheter, a groundbreaking radial access catheter system, will also be available in July 2021 thanks to a Health Canada licence obtained by Medtronic Canada ULC, a division of Medtronic

During the projection period, Asia Pacific is anticipated to grow at the highest CAGR of 8.01% due to factors including increased target disease burden, technological developments, and rising prevalence of neurological illnesses.In addition, elements like the presence of significant players in the area and rising healthcare costs are fostering regional development. For instance, China's National Medical Products Administration (NMPA) granted marketing permission to MicroPort NeuroTech Limited's independently developed Diver Intracranial Balloon Catheter in January 2022. Consequently, it is projected that this will accelerate market growth in the near future.

Global Neurovascular Catheters Market By Geography, 2024-2031
  • Largest
  • Fastest

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Neurovascular Catheters Market Dynamics

Neurovascular Catheters Market Drivers

Increasing Prevalence of Neurological Disorders to Favor Market Growth

  • The rising prevalence of neurological disorders such as stroke, aneurysms, and arteriovenous malformations (AVMs) is driving demand for neurovascular catheters. These catheters are used to diagnose and treat these conditions, and as the prevalence of these disorders increases, so too does demand for neurovascular catheters.
  • Minimally invasive procedures are becoming increasingly popular for the treatment of neurological disorders, and neurovascular catheters play a key role in these procedures. As patients and healthcare providers become more aware of the benefits of minimally invasive procedures, demand for neurovascular catheters is expected to increase.

Neurovascular Catheters Market Restraints

Complications Associated with Catheters to Hinder Market Growth

  • Neurovascular catheters are used to access and navigate through delicate blood vessels in the brain, which can be challenging and can lead to various complications such as bleeding, clotting, vessel perforation, and infection. Complications associated with the use of neurovascular catheters can lead to severe neurological deficits or even death, and can also increase the length of hospital stay and healthcare costs. Moreover, the risk of complications is higher in patients with co-existing medical conditions.

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Neurovascular Catheters Market Competitive Landscape

The major challenge in the neurovascular catheters market is the high cost of procedures. Neurovascular procedures are complex and require specialized equipment, skilled healthcare professionals, and significant hospital resources. The high cost of procedures can limit their accessibility to patients, particularly in developing countries, where healthcare infrastructure and resources are limited.

Neurovascular Catheters Market Top Player’s Company Profiles

  • Penumbra, Inc. (US)
  • MicroPort Scientific Corporation (China)
  • Johnson & Johnson (US)
  • Merit Medical Systems, Inc. (US)
  • Integer Holdings Corporation (US)
  • Teleflex Incorporated (US)
  • Penumbra, Inc. (US)
  • Rapid Medical Ltd. (Israel)
  • MicroVention, Inc. (US)
  • Acandis GmbH (Germany)
  • Balt Extrusion (France)
  • Covidien (US)
  • Boston Scientific Corporation (US)
  • Cook Medical LLC (US)
  • Phenox GmbH (Germany)
  • Stryker Neurovascular (US)
  • Balt USA LLC (US)
  • Metactive Medical, Inc. (US)
  • Amplitude Surgical SA (France)

Neurovascular Catheters Market Recent Developments

  • In October 2022, With European authorization, iVascular extended its neurovascular pipeline for ischemic stroke. The iNedit balloon distal access catheter, the iNdeep microcatheter, the iNtercept retriever device, and the iNstroke 4- and 6-F aspiration catheter have received the CE Mark from the firm.
  • In April 2022, the evaluation of the safety and performance of the BOBBY Balloon Guide Catheter for Endovascular Treatment for Acute Ischemic Stroke was just completed, according to safety studies conducted under the EU's STRAIT programmer. The balloon guide catheter known as ARCHER is currently authorized in both Europe and North America and generally offers endovascular occlusion during angiographic operations.
  • In April 2022, The X-track Intracranial Distal Access Catheter (X-track), which was independently created by MicroPort NeuroTech Limited, was given marketing approval by China's National Medical Products Administration (NMPA).

Neurovascular Catheters Key Market Trends

  • The increasing incidence of neurological disorders, such as stroke, aneurysms, and arteriovenous malformations, is driving the demand for neurovascular catheters. According to the World Health Organization (WHO), stroke is the second leading cause of death globally, and the demand for effective treatment options for neurological disorders is increasing.

Neurovascular Catheters Market SkyQuest Analysis

SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.

According to our analyses, the global neurovascular catheters market is a rapidly growing market, driven by several factors such as increasing incidence of neurological disorders, growing demand for minimally invasive procedures, and technological advancements. The market is expected to continue to grow in the coming years due to the rising geriatric population and increasing investments in research and development by major players. North America is the dominant region in the neurovascular catheters market, owing to the presence of a large number of key players and high adoption of neurovascular catheters in these regions. Asia Pacific is also expected to witness significant growth in the coming years, due to the increasing incidence of neurological disorders and growing healthcare infrastructure.

Report Metric Details
Market size value in 2023 USD 3.03 Billion
Market size value in 2031 USD 5.66 Billion
Growth Rate 7.20%
Forecast period 2024-2031
Forecast Unit (Value) USD Billion
Segments covered
  • Application
    • Embolic Stroke, Brain Aneurysms, Arteriovenous Malformations, Others
  • Type
    • Micro, Balloon, Access, Embolization, Others
Regions covered North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)
Companies covered
  • Penumbra, Inc. (US)
  • MicroPort Scientific Corporation (China)
  • Johnson & Johnson (US)
  • Merit Medical Systems, Inc. (US)
  • Integer Holdings Corporation (US)
  • Teleflex Incorporated (US)
  • Penumbra, Inc. (US)
  • Rapid Medical Ltd. (Israel)
  • MicroVention, Inc. (US)
  • Acandis GmbH (Germany)
  • Balt Extrusion (France)
  • Covidien (US)
  • Boston Scientific Corporation (US)
  • Cook Medical LLC (US)
  • Phenox GmbH (Germany)
  • Stryker Neurovascular (US)
  • Balt USA LLC (US)
  • Metactive Medical, Inc. (US)
  • Amplitude Surgical SA (France)
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Table Of Content

Executive Summary

Market overview

  • Exhibit: Executive Summary – Chart on Market Overview
  • Exhibit: Executive Summary – Data Table on Market Overview
  • Exhibit: Executive Summary – Chart on Neurovascular Catheters Market Characteristics
  • Exhibit: Executive Summary – Chart on Market by Geography
  • Exhibit: Executive Summary – Chart on Market Segmentation
  • Exhibit: Executive Summary – Chart on Incremental Growth
  • Exhibit: Executive Summary – Data Table on Incremental Growth
  • Exhibit: Executive Summary – Chart on Vendor Market Positioning

Parent Market Analysis

Market overview

Market size

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • SWOT Analysis

KEY MARKET INSIGHTS

  • Technology Analysis
    • (Exhibit: Data Table: Name of technology and details)
  • Pricing Analysis
    • (Exhibit: Data Table: Name of technology and pricing details)
  • Supply Chain Analysis
    • (Exhibit: Detailed Supply Chain Presentation)
  • Value Chain Analysis
    • (Exhibit: Detailed Value Chain Presentation)
  • Ecosystem Of the Market
    • Exhibit: Parent Market Ecosystem Market Analysis
    • Exhibit: Market Characteristics of Parent Market
  • IP Analysis
    • (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
  • Trade Analysis
    • (Exhibit: Data Table: Import and Export data details)
  • Startup Analysis
    • (Exhibit: Data Table: Emerging startups details)
  • Raw Material Analysis
    • (Exhibit: Data Table: Mapping of key raw materials)
  • Innovation Matrix
    • (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
  • Pipeline product Analysis
    • (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
  • Macroeconomic Indicators

COVID IMPACT

  • Introduction
  • Impact On Economy—scenario Assessment
    • Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
  • Revised Market Size
    • Exhibit: Data Table on Neurovascular Catheters Market size and forecast 2021-2027 ($ million)
  • Impact Of COVID On Key Segments
    • Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
  • COVID Strategies By Company
    • Exhibit: Analysis on key strategies adopted by companies

MARKET DYNAMICS & OUTLOOK

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • Regulatory Landscape
    • Exhibit: Data Table on regulation from different region
  • SWOT Analysis
  • Porters Analysis
    • Competitive rivalry
      • Exhibit: Competitive rivalry Impact of key factors, 2021
    • Threat of substitute products
      • Exhibit: Threat of Substitute Products Impact of key factors, 2021
    • Bargaining power of buyers
      • Exhibit: buyers bargaining power Impact of key factors, 2021
    • Threat of new entrants
      • Exhibit: Threat of new entrants Impact of key factors, 2021
    • Bargaining power of suppliers
      • Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
  • Skyquest special insights on future disruptions
    • Political Impact
    • Economic impact
    • Social Impact
    • Technical Impact
    • Environmental Impact
    • Legal Impact

Market Size by Region

  • Chart on Market share by geography 2021-2027 (%)
  • Data Table on Market share by geography 2021-2027(%)
  • North America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • USA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Canada
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Europe
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Germany
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Spain
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • France
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • UK
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Europe
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Asia Pacific
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • China
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • India
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Japan
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Korea
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Asia Pacific
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Latin America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Brazil
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of South America
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Middle East & Africa (MEA)
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • GCC Countries
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Africa
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of MEA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)

KEY COMPANY PROFILES

  • Competitive Landscape
    • Total number of companies covered
      • Exhibit: companies covered in the report, 2021
    • Top companies market positioning
      • Exhibit: company positioning matrix, 2021
    • Top companies market Share
      • Exhibit: Pie chart analysis on company market share, 2021(%)

Methodology

For the Neurovascular Catheters Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:

1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.

2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Neurovascular Catheters Market.

3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.

4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.

Analyst Support

Customization Options

With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Neurovascular Catheters Market:

Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.

Regional Analysis: Further analysis of the Neurovascular Catheters Market for additional countries.

Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.

Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.

Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.

Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.

Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.

Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.

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FAQs

Neurovascular Catheters Market size was valued at USD 3.03 Billion in 2022 and is poised to grow from USD 3.25 Billion in 2023 to USD 5.66 Billion by 2031, at a CAGR of 7.20% during the forecast period (2024-2031).

The major challenge in the neurovascular catheters market is the high cost of procedures. Neurovascular procedures are complex and require specialized equipment, skilled healthcare professionals, and significant hospital resources. The high cost of procedures can limit their accessibility to patients, particularly in developing countries, where healthcare infrastructure and resources are limited. 'Medtronic plc (Ireland)', 'Stryker Corporation (US)', 'Terumo Corporation (Japan)', 'Penumbra, Inc. (US)', 'MicroPort Scientific Corporation (China)', 'Johnson & Johnson (US)', 'Merit Medical Systems, Inc. (US)', 'Integer Holdings Corporation (US)', 'Teleflex Incorporated (US)', 'Penumbra, Inc. (US)', 'Rapid Medical Ltd. (Israel)', 'MicroVention, Inc. (US)', 'Acandis GmbH (Germany)', 'Balt Extrusion (France)', 'Covidien (US)', 'Boston Scientific Corporation (US)', 'Cook Medical LLC (US)', 'Phenox GmbH (Germany)', 'Stryker Neurovascular (US)', 'Balt USA LLC (US)', 'Metactive Medical, Inc. (US)', 'Amplitude Surgical SA (France)'

The rising prevalence of neurological disorders such as stroke, aneurysms, and arteriovenous malformations (AVMs) is driving demand for neurovascular catheters. These catheters are used to diagnose and treat these conditions, and as the prevalence of these disorders increases, so too does demand for neurovascular catheters.

The increasing incidence of neurological disorders, such as stroke, aneurysms, and arteriovenous malformations, is driving the demand for neurovascular catheters. According to the World Health Organization (WHO), stroke is the second leading cause of death globally, and the demand for effective treatment options for neurological disorders is increasing.

Due to the presence of significant manufacturers in the area, including Penumbra, Inc., Stryker Corporation, Merit Medical Systems, Inc., and Johnson & Johnson, North America had the lion's share of the market in 2022 (33.23%). For instance, J&J's Cerenovus would invest USD 54.19 million in an Irish research facility's development of stroke devices in February 2022. The Rist Selective Radial Access Catheter and the Rist 079 Radial Access Guide Catheter, a groundbreaking radial access catheter system, will also be available in July 2021 thanks to a Health Canada licence obtained by Medtronic Canada ULC, a division of Medtronic

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